Horizon Cars Limited - Abbreviated accounts

HORIZON CARS LIMITED - Company Information

Registered number

08558975

Horizon Cars Limited

Abbreviated Accounts

30 June 2015

Horizon Cars Limited
Registered number:		08558975
Abbreviated Balance Sheet
as at 30 June 2015

Notes			2015			2014
£				£
Fixed assets
Tangible assets	2		2,433			533

Current assets
Stocks		16,000			3,400
Debtors		5,950			12,230
Cash at bank and in hand		1,449			10,305
		23,399			25,935

Creditors: amounts falling due within one year		(4,466)			(3,891)

Net current assets			18,933			22,044

Total assets less current liabilities			21,366			22,577

Creditors: amounts falling due after more than one year			(35,341)			(37,838)



Net liabilities			(13,975)			(15,261)

Capital and reserves
Called up share capital	3		100			100
Profit and loss account			(14,075)			(15,361)

Shareholder's funds			(13,975)			(15,261)

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.



Muhammad Shakeel Akram
Director
Approved by the board on 8 September 2015

Horizon Cars Limited
Notes to the Abbreviated Accounts
for the year ended 30 June 2015

1	Accounting policies

	Basis of preparing the financial statements
	The financial statements have been prepared on a going concern basis as the director is satisfied
	that the company will have adequate working capital for the future trading needs.

	Accounting convention
	The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

	Turnover
	Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

	Depreciation
	Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

	Plant and machinery			33% straight line

	Stocks
	Stock is valued at the lower of cost and net realisable value.

	Deferred taxation
	Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.



2	Tangible fixed assets					£

	Cost
	At 1 July 2014					800
	Additions					3,250
	At 30 June 2015					4,050

	Depreciation
	At 1 July 2014					267
	Charge for the year					1,350
	At 30 June 2015					1,617

	Net book value
	At 30 June 2015					2,433
	At 30 June 2014					533


3	Share capital	Nominal		2015		2015		2014
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		100		100		100

4	Going concern
	The company, made profit during the year and has net liabilities on the balance sheet. This cast
	doubt on company's ability to continue as going concern. But the director is satisfied the company
	will have adequate finances and financial support from its shareholder to meet its future working
	capital requirements and continue as going concern.

5	Ultimate controlling party
	Muhammad Shakeel Akram, controls the company by virtue of his 100% ownership of the issued
	share capital of the company.